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Survivors' protection: The best rates for the protection of the family


Protecting your own family is not just important during your lifetime. Even in case of premature death partners and children should be financially secure. With a term life insurance this is possible for a few euros a month. However, a recent study shows that, depending on age, occupation and health, there are differences in the best rates. Image result for family insurance

  • The term life insurance offers the possibility to financially secure one’s own relatives in the event of death.
  • A recent test examines which rates are recommended for different occupational groups.
  • Due to significant price differences, interested parties should use a tariff comparison to term life insurance, so that the protection of loved ones is not too expensive.

Even if life expectancy in Germany increases, not everyone reaches a ripe old age. Be it an accident or a serious illness, sometimes people die in the middle of their lives . Especially for the partner and the children, this does not just mean an extreme emotional burden. In addition, there is often a financial emergency, for example, when the income of the main earner suddenly disappears. A term life insurance supports the family in this difficult situation .

Various tests on term life insurance regularly determine that, although there are no significant differences in terms of benefits. However , the contributions vary enormously between providers . Sometimes the most expensive insurer demands four or five times the cheapest offer. In the last survey of Stiftung Warentest, for example, the price range was between 210 and 1,042 euros per year.

Service: Do you want to protect your family and not pay unnecessarily high fees? Use the settlement calculator for survivor protection and find an offer with an outstanding price-performance ratio.

Term life insurance: What influence does the profession have?

Focus-Money’s new term life insurance test has focused on the best rates for different occupational groups (Issue 36/2017). Because in addition to the age and health factors such as tobacco consumption and the profession plays an important role when it comes to the amount of contributions. Especially in how far the insured physically works, has a significant impact on the costs. In addition, civil servants typically receive more favorable terms than workers, while health care professionals spend more on protecting their families.

The experts have taken into account five occupational groups (employees, self-employed, civil servants, job seekers and health professionals) for the test. The basis for each served two job profiles, such as an architect and a financial accountant in the self-employed. On the basis of the insurance conditions and costs, the testers determined the best rates with an overall rating of “very good” and “excellent” .

Several providers receive the highest rating “outstanding” several times in the overall ranking – and are doing well in every professional group . These include:

  • Allianz – Life Insurance Plus (LC0)
  • Europe – Premium Life Insurance Premium E-RLP
  • Hannoversche – T1-Plus

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What costs are incurred by term life insurance?

How much money interested people pay for the financial protection of their family depends on various factors . As a general rule, young insured persons who reassure themselves at the age of 20 pay small contributions. For them, sometimes costs less than five euros per month for a sum insured of 50,000 euros. With increasing age when the insurance is completed, the price increases . The same applies to a more comprehensive protection.

Smokers in turn have to expect significantly higher contributions compared to non-smokers . Even those who work hard or are on the job a lot have to pay contributions that are above the level of policyholders with pure office work. Depending on the desired level of protection and the health and professional situation monthly costs of 200 € or more per month. It is all the more important to find out about the best offers by means of a comparison .